Airgain® Announces Grant of Incentives Under Nasdaq Listing Rule 5635(c)(4)


SAN DIEGO–(BUSINESS WIRE)–Airgain, Inc. (NASDAQ:AIRG)a leading provider of advanced wireless connectivity solutions and technologies used to enable high-performance wireless networking across a wide range of devices and markets, including consumer, business and automotive, announced today that it has granted incentive awards to Victor Blair, a new non-executive executive who recently joined the Company as Vice President, Global Operations.

The awards were made on January 18, 2022 as part of Airgain’s 2021 Employment Incentive Plan, which provides for the granting of equity awards to new Airgain employees as an incentive to join the company. The incentive awards to Mr. Blair consist of options to purchase 20,000 shares of Airgain common stock and 10,000 restricted stock units (“RSUs”). The options have a term of 10 years and an exercise price equal to $10.92, the fair market value of Airgain common stock at the date of grant. The options vest over a four-year period, with 25% of the options vesting on the first anniversary of the applicable vesting start date, and the remainder vesting in equal monthly installments thereafter and are subject to Mr. Blair with the Company by the applicable vesting date. Each RSU represents a conditional right to receive one common share of the Company and there is no exercise price associated with the RSUs granted hereunder. The RSUs vest in four substantially equal installments on March 1, 2023, 2024, 2025 and 2026, subject to Mr. Blair’s continued service with the Company. The awards were approved by the Compensation Committee of Airgain’s Board of Directors, as required by Nasdaq Rule 5635(c)(4), and were granted as incentive material to the new incoming employee employed by Airgain pursuant to Nasdaq Rule 5635(c)(4).

About Airgain, Inc.

Airgain is a leading provider of advanced wireless connectivity technologies and systems used to enable high performance networking across a wide range of devices and markets, including consumer, enterprise and automotive. Airgain’s mission is to connect the world through optimized integrated wireless solutions. Combining design-driven thinking with test and development, Airgain’s technologies are deployed in carrier, fleet, enterprise, residential, private, government and public safety wireless networks and systems, including set-top boxes, access points, routers, modems, gateways, media adapters, laptops, digital televisions, sensors, fleet tracking, in-vehicle networking and asset tracking devices. With its pedigree in the design, integration and testing of high performance wireless modules and antenna technology, Airgain has become a leading provider of integrated communication products that meet critical connectivity needs. Airgain is headquartered in San Diego, California, and has design and test centers in the United States, United Kingdom, and China. For more information, visit airgain.comor follow us on LinkedIn and Twitter.

Airgain and the Airgain logo are trademarks or registered trademarks of Airgain, Inc.

Forward-looking statements

Airgain cautions you that statements contained in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company’s current beliefs and expectations. These forward-looking statements include statements regarding the expected employment relationship of employees receiving options and expectations regarding Airgain’s future performance and opportunities that involve substantial risks and uncertainties. The inclusion of forward-looking statements should not be construed as a statement by Airgain that any of our plans will be achieved. Actual results may differ from those presented in this press release due to risks and uncertainties inherent in our business, including, without limitation: the market for our products develops and may not develop as expected; risks associated with the performance of our products or the first responder network; our products are subject to intense competition, and competitive pressures from existing and new businesses may adversely affect our business, sales, growth rates and market share; the COVID-19 pandemic may continue to disrupt and negatively affect our operations and those of our suppliers, partners, distributors and end customers, as well as the global market in which our antennas are used, as well as negatively affect States United and the world at large economic conditions and financial markets and, ultimately, our sales and operating results; the risks associated with the design and manufacture of a unique product and its introduction into the newly licensed first responder frequencies and the associated uncertainty of regulatory compliance in a new product category; risks associated with the quality and timing of our products and our reliance on third-party manufacturers; if we cannot protect our intellectual property rights, our competitive position could be affected or we could incur significant expenses to enforce our rights; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission, including under the heading “Risk Factors” in our Annual Report on Form 10-K and in any subsequent filings with of the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect new events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


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